Webull was launched in 2018, and recently went public under the ticker symbol BULL. They pride themselves on being user-friendly across a number of digital interfaces.
Summary
Webull was launched in 2018 and recently went public under the ticker symbol BULL.
Webull offers commission-free trading on most products it offers, including US stocks, ETFs and options.
Webull is user-friendly for online traders looking for basic services, but also offers advanced charting and investment screening tools for more experienced users.
Who is Webull?
Webull is a publicly traded company (ticker BULL) that offers online investing services. Webull is known for its low trading costs and also offers advanced trading tools to investors using the site.
They offer high interest rates on uninvested cash. Their premium service offers even better rates on uninvested cash as well as good rates on margin loans. The premium service also offers one of the best IRA match options among brokerage services.
All of this is available for a relatively low fee.
Webull isn’t the most advanced online brokerage service, but it offers more features and tools than many other popular online services.
Key features of Webull
Here are some of the key features of Webull.
Zero commissions on US–listed stocks, ETFs, and stock options.
There is no required minimum deposit.
Extended trading hours of 24 hours per day, Monday–Friday, for some securities.
They offer a paper trading option to allow investors to test their strategies.
Investors ranging from beginners to more sophisticated investors will benefit from the
What are the pros and cons of Webull?
When choosing an investing platform, it’s wise to weigh up the pros and cons before making a decision. Here are some of the key advantages and disadvantages to get you started.
Pros of Webull
Zero trading commissions on US-listed stocks, ETFs, and stock options.
They offer money market mutual funds, US Treasury bonds, futures, and Kashi Hourlies (an hourly market prediction contract).
There is no minimum amount required to open an account.
They offer 24-hour trading for certain securities Monday through Friday.
Customer service is available via phone, online chat, and email.
Cons of Webull
Mutual funds are not available for trading on the platform.
Individual bonds, other than some Treasuries, are not available on the platform.
Crypto trading is available on a limited basis.
Webull: costs, investment minimums and trading
Here is a breakdown of the investment assets available to Webull investors, including the costs associated with them:
| Feature | Details |
|---|---|
| Cost per stock trade | $0 |
| Options fees | $0 except for specific, listed options |
| Futures trading | $1 for less than 5,000 monthly trades |
| No transaction fee mutual funds | Three money market mutual funds. $0 commissions and low fund expense ratios. |
| Trading platforms | Desktop, web-based and mobile |
| Crypto trading | Available only in New York, Guam and Northern Mariana Islands |
| Fractional shares | Yes |
Webull also offers mobile app trading and the use of a robo-advisor through Webull Smart Advisor for those interested.
The platform does not have a minimum amount you must invest in order to get started.
Who should consider Webull?
Webull offers a solid trading platform for a range of investors, ranging from beginners to more experienced and sophisticated investors.
New and inexperienced investors can benefit from Webull’s paper trading option. This is essentially a practice trading platform where investors can practice trading a variety of investments, including options. This allows investors to learn more about trading without risking real money.
Webull is a potentially good fit for intermediate-level traders. The platform is not as advanced as that of rivals such as Interactive Brokers, but it is more sophisticated and offers more trading options than other rivals, such as Robinhood.
Options traders should consider Webull since there is no cost to trade stock options.
Investors seeking extended trading hours can benefit from Webull's ability to trade certain securities 24 hours a day, Monday through Friday.
Webull may not be the right choice for investors seeking a diverse portfolio of mutual funds, individual bonds beyond Treasuries, international trading capabilities, or access to a full range of crypto assets. These investors might consider a Webull account for some of their trading, but will need at least one additional investment account to accommodate these other types of investing.
How much does Webull cost?
One of the attractions of Webull is its zero trading commissions for US-listed stocks, ETFs, and stock options. Other costs and fees on the platform include:
Non-equity options carry a $0.55 per contract fee.
While there are no annual or account inactivity fees, they do charge a $75 fee for outbound ACATS transfer that applies to both full and partial transfers.
There is a $40 annual fee for Webull Premium.
There are minimal additional fees for options like paper statements,
Webull account minimum
As mentioned previously, there are no minimums to open an account at Webull.
This has a number of advantages, including:
Accessibility for beginners: Beginners often choose to start with small amounts.
Financial inclusion: It also helps those with limited income or savings to participate in the market.
Flexibility: Investors can contribute at their own pace, without pressure to meet a threshold.
Lower risk: New investors can "test the waters" with minimal financial risk, which can be reassuring.
Webull robo advisor
Webull offers a robo-advisor option, which is operated through Webull Advisors.
The Webull Smart Advisor account is a type of investment account that offers automated and personalized portfolio management services.
To use the service, you must fill out a questionnaire that asks about your risk appetite, investing knowledge, and investing experience. The program automatically adjusts your investments for you, allowing you to actively participate in the market.
You can log in to your account to view, track, and manage your portfolio.
Webull customer feedback
While each user's experience with any platform will be different, looking at customer reviews can provide some insight into how you’ll fare with the service.
The Better Business Bureau gives Webull a “C” rating.
Is Webull a good option to consider?
Investors with a higher level of investment experience might benefit from some of Webull’s features, including:
Relatively low pricing
Advanced ordering tools
Solid technical analysis tools
While the zero account minimum has its advantages for beginner investors, those without a diversified portfolio, or who wish to build one, may struggle.
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